Corn exports fell 40% in the first six months of the commercial campaign of the cereal to 14.3 million tons, which implied a decrease of 9.5 million tons compared to the same period last year, according to the Rosario Stock Exchange (BCR).
In this way, this complex had its worst mark in five years as a consequence of the effects of drought on cereal, which caused a drop in the harvest volume of 33% to 34 million tons.
This resulted in a decrease in the exports of the 2022/23 campaign measures in value of US$2,275 million compared to the first half of the 2021/22 cycle up to US$3,768 million.
However, “a slight improvement in the average prices of export this period, from US$253 to US$263 per ton, cushioned this drop very little,” the BCR indicated.
With 14.3 million tons already exported, six more million tons remain to be shipped, so up to now they have been fully booked to send abroad some 20 million tons of a total of 26 million allowed by the export volume decided by the national government.
Corn dollar: the result of the program
On the other hand, with the end of August the validity of the Export Increase Program IV (PIE IV) formally, with a volume of settlements of US$2,129 million, mainly for corn export businesses.
“In this Agro Dollar, the main protagonist was the yellow cereal, in the middle of the harvest of late-sown seeds,” concluded the report from the stock exchange.
Screenshot 2023-09-04 123606.png
Source: Ambito
